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Search Results 61 to 160 of about 988 (some duplicates have been removed)
CNN
Dec 8, 2012 6:30am PST
have this year, the fiscal cliff in the way. republicans say if you raise taxes on the top 2% that will hurt small business and will kill jobs. talked to the ceo of fedex and he says, shall we say, there's mythology around that assumption. listen. >> the reality is the vast majority of jobs in the united states are produced by capital investment and equipment and software that's not done by small business. >> right. >> it's done by big business, and the so-called gazelles, the emerging companies like the new fracing oil and gas operations. >> we've talked about this so many times. >> yeah. >> it's demand that creates jobs. >> that's exactly right, and i'm glad fraud smith says that. gone from understanding that small business creates most of the new jobs generally in the united states, not all jobs. now that doesn't mean we shouldn't do all we can for small business because they are going to be on the margins where the new jobs come, from but we have got to have an environment that creates jobs for everyone and you've done the studies yourself to show that increasing taxes on
PBS
Dec 11, 2012 7:00pm PST
tax is just too complicated to tackle in the fiscal cliff negotiations. >> if we get to a comprehensive reform of the tax system and we say, "okay, here is the income tax. this is what we are going to do. now, we need an estate tax to back it up," maybe you could change the estate tax in that setting. but just one off, i think that's hard to do. >> reporter: if congress doesn't act soon, the current $5 million estate tax exemption will fall to $1 million on january 1, though it is unlikely to stay there for long. darren gersh, nbr, washington. >> susie: the fiscal cliff was certainly one topic on the agenda of the federal reserve today as policymakers kicked off their two-day meeting. tomorrow, the world will be waiting to see whether the central bank will do more to prop up the u.s. economy. the big question is whether the fed will stick with its so- called "operation twist" bond- buying program, or will it announce something new? erika miller takes a closer look at what's expected. >> reporter: the fed may announce a new twist in its bond buying plans, but that does
PBS
Dec 11, 2012 12:00am PST
to the battle over the fiscal cliff. much of the debate has centered on the question of whether to raise tax rates on high income earners. but many experts are also raising questions as to whether major tax deductions should be limited or even eliminated entirely. the newshour's economics correspondent paul solman was in washington recently to examine the possible impact of such a change. it's part of his ongoing reporting, "making sense of financial news." reporter: at saint martin's catholic church last thursday, they queued up early for clothing and food. the church, like any nonprofit, relies on charitable donations. but limiting or even charitable deductions could be part of a deal to avoid the fiscal cliff. one man of the tax policy center says given our national debt? sort of tax hikes are inevitable. >> one way is to tax the same income we have right now but get more revenue. the alternative is to tax more. get rid of the deductions and the exemptions, the things that reduce or taxable income. we tax more at today's rates and we bring in more revenue. >> reporter: itemized deductions
CBS
Dec 10, 2012 5:00am PST
boehner met to try to prevent the impending fiscal cliff. the tax hikes and spending cuts due to kick in on january 1st. the main sticking points remain, and cuts to entitlement programs medicare. the president has asked congress to work through the holiday break if no deal is reached before then: the federal reserve is expected to announce an expansion o of their program. they will extend the program of buying $85 billion of securities each month into the the new year. announcement is expected when the bankers meet tomorrow and wednesday. a new survey shows pay for private college presidents continues the upward climb. they studied data from 2010 and median compensation rose to $400,000. that is up nearly 3 personality. that's a -- percent. that's a pretty good paying job there. very lucrative. >> cbsmoneywatch.com, thank you. >>> a heavy storm is pummeling the upper midwest. 15 inches of snow dumped on the twin city in minnesota. crews are cranking up the late to melty snow -- melt snow on the roof. it dumped 17 inches of snow on the roof causing it to cave in a couple years ago. an
CBS
Dec 6, 2012 4:00am PST
the white house is absolutely willing to go over the fiscal cliff if the gop doesn't agree to raise taxes on the top 2% of earners. while a handful of republicans appears willing to concede that point, the party's position seems unchangeable. >> speaker boehner took a position i think the day after the campaign that says we're willing to bring in revenue, but we're not willing to increase rates. >> the president says if republicans will concede the point, they could reach a deal within a week. and the presidential business leaders, if republicans drop that opposition, they could agree -- they could make a deal within a week, as we said, but, you know, as we said, the terrell?continues. >> susan, thank you so much. >>> to syria now. cbs has learned that the u.s. has discovered they have prepared chemical weapons that could potentially beused against the opposition. right now there are no indications that any of those chemicals could be fixed on military aircraft. meanwhile the obama administration says essentially countries in the middle east have offered asylum to assad and his family. as
FOX
Dec 5, 2012 11:00pm EST
..... pitchingghis plan to avoid the fiscal cliff ttrough higher ta. taxes. negotiations between the white stalled. president obama says he will not sign a bill "without" a taxxincrease on incomes over two hundred fifty thousand dollars or more. offer by republican john boehner has not only been rejected by theeadministration party. if a deal sn't made by december thirty-first, automatic tax increases and budget cuts will kiik in by the new year. sooe maryland leaders are speaking out against the fedd' decision to deny aid to hurriiane sandy victims in ur hundreds of residents along the eastern shore were devvstated whennsuperstorm sandy unleashed her fury in pctober. bbt according to the federal emergeecy management agency... tte damage wasn't enough tt warrrnt áindividualá aid. at a senatt aappopriations hearing today... senators barbara challenged fema leaders to re-think their decisson. 1:24 we in maryland have sooe of the most prosperous counttes in america but we also haae someeof the most &ppoor and that's who got hit b this storm 33 governor marrin o'malley has already vowed
CBS
Dec 8, 2012 6:30pm EST
in this country, we are just over three weeks away from falling over the so-called fiscal cliff, that combination of tax increases and deep federal spending cuts. nancy cordes reports the back-and-forth showed no sign of letting up today 20 white house and the republicans in congress. >> reporter: in his saturday weekly address, president obama signaled he is open to making cuts on programs like medicare and medicaid if republicans agree to raise tax rates for the rich. >> i'm willing to find ways to bring down the cost of health care without hurting seniors and other americans who depend on it. and i'm willing to make more entitlement spendings cuts on top of the $1 trillion in spending cuts i signed into law last year. >> reporter: his remarks came one day after house speaker john boehner announced the talkes were stalled. >> well, this isn't a progress report because there's no progress to be report. >> reporter: his democratic counter-part ploals blamed boehner for the stalemate. >> what they offered in return was an empty letter lacking in specifics. >> reporter: such is the state of negotia
CBS
Dec 5, 2012 7:00pm EST
. so what about this fiscal cliff? some would suggest and your party, as a matter of fact, said hey, let us go off the enand maybe you can cut back the tax increases on other -- edge and maybe you can cut back the tax rexes on others later, but that would at least mean -- taxes on others later, but that would at least mean people making more would pay more. >> i think it underestimates the potential impact on the economy and the very people we're trying to protect would be the most affected if that happened. so i don't think it's a good idea at all to go off the fiscal cliff. >> first of all, two questions, would you be willing to work through the christmas holiday to make sure this gets done? >> absolutely. >> second question, what about foregoing any pay until you solve this problem? >> well, the problem with that is there are 535 of us and i'm willing to solve the problem and compromise. i don't want to be penalized because of somebody else. >> fair enough. congressman connolly, we thank you for being here. i take it that means you want to keep collecting your paycheck. >> i want
CBS
Dec 9, 2012 11:00pm EST
:00 and what happens is a lot of yelling. >> reporter: the impending fiscal cliff could mean higher taxes on small businesses like this and reduced spending by uneasy customers, weary of another recession. >> what if we need to raise taxes? and people have less money because their taxes are raised too. >> we need to make sure too as a community we stay strong and we protect our customers and our businesses. our own little government almost. >> reporter: the donuts are so fresh that the bakery repeatedly ran out until the next batch was ready. >> i just sold my last one. >> we're not going to make anymore today. i really can't. there will be a second of them. >> what else? >> i need the food tray. >> i have one left. >> if most customers can wait patiently, at times for more than an hour, maybe just maybe even bitter fiscal cliff disagreements can be negotiated. andrea mccaren, 9news. >> wow. we've got a deadly shooting near an airport. authorities in cleveland said that a man fatally shot his wife and then fired at the second person before shooting and killing himself. it occurred this mo
FOX News
Dec 9, 2012 4:00pm PST
recession, triggeri triggering events the fiscal cliff. is tax hikes and deep spending cuts january 1st if law makes can't come up with an alternative. no word if any progress was made. both men issuing statements about the talks, saying the lines of communication remain open. and police in london are owning up to authorities in awes as as the investigation deepens into an of radio station's hoax call made to the hospital. and made by these two. and they managed to dupe a nurse into giving out personal, private information and that nurse, by the way, may have committed suicide. so far police have not exactly linked her death to the prank and now for the time being, we're hearing from members of her family. >> and i'll really miss her a lot. she was a good sister-in-law, i can't forget her, she was so good. >> harris: family members talking to the media today for the first time. dj's are off the job and that may not stop the possibility of criminal charges and joining me, lee yeah, thanks for being with us tonight. >> hi, nice to be on. >> what are we learning about, whether metro london
FOX Business
Dec 10, 2012 9:00pm EST
understand what the fiscal cliff aside, you have year-end tax plan. >> there is a usual thing you should still be doing every year. with the rates going up,ike a grown-up, there are more valuable than if you don't use them this year. tracy: many people wanting to save their gains, take the losses. >> everybody talks about tang again now, buying back, hire you don't want to accelerate10 texas unless you know you're going to sell those anyway. soon into 2013. if you have a concentrated position is a lot of risk to get out. the ne six to 10 months, accelerate. in a long-term investment, there's no reason i don't think accelerate the games to pay uncle sam early. tracy: if you are in a position is a short-term gain, would u buy it back in their retirement accounts like iras? >> it depds if there's going to be gain potential still lower than the rate. tracy: that is really important as tax rates go up. speak of the thing is the fiscal cliff is driving pple to get a little crazy but rality is the argument is over the highest bracket. for most people it shouldn't matter thatuch. however do have
ABC
Dec 5, 2012 7:00am PST
past the fiscal cliff deadline and postponing the battle over the tax cuts for the wealthy until next month. >>> some things going on at the hospital. two australian deejays called the hospital posing at queen elizabeth and prince charles and got through to kate's private nurse. shockingly, if you hear the audio, who briefed them on her condition. >>> and a health scare for anderson cooper. he says he went blind for almost two days. he actually showed a picture of himself wearing an eye patch. he says he lost his sight for some 36 hours last week, while reporting from portugal, after spending a couple hours on the water. cooper said he felt like his eyes were on fire. it turns out, his eyeballs were sunburned. go figure. >> it can happen. >> it can apparently. >> i did not know that. >> you do now. >>> here's diane sawyer, with a preview of tonight's "world news." diane? >> hello, josh. hello to everyone on "gma." tonight, it's not just holiday shopping. join the movement. "made in america." creates new american jobs. american companies are saying thank you. the great "made in america
MSNBC
Dec 5, 2012 7:00pm PST
the fiscal cliff, raising tax rates on the richest americans for them is still off the table. >> the revenues on the table are coming from, guess who? the rich. there are ways to limit deductions, close loopholes, and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. if the president doesn't agree with our proposal and our outline, i think he's got an obligation to send one to the congress. a plan that can pass both chambers of congress. >> joining me now is former vermont governor howard dean and msnbc's krystal ball. governor dean, our treasury secretary is a very carwful speaker. when asked if they're prepared to go off the cliff, his first word was absolutely. there was nothing, nothing could be more clear that this administration means what they say about getting what they want at this point. >> yeah. the only problem is -- this is a little initially going to team like heresy, the truth is everybody needs to pay more taxes, not just the rich. that's a good start. we won't get out of the problem to rai
FOX News
Dec 10, 2012 6:00am PST
of course and the prospect of increased taxes as we get closer to the fiscal cliff. looks like everybody's taxes are going up no matter how this thing is comes out. consumer spending accounts for more than 2/3 of economic output. especially important at this time of year of course when a lot of sectors in all of these areas have been struggling, here is a bit of good news. martha: okay. take it. bill: not a lot. if you're driving on the road, thanks to shrinking demand manned lower fuel prices gas is sinking like a stone. a drop of 34 cents in the past month. in st. louis, drivers paying just over $3. even l.a. is paying 3.68. which is below four bucks where they have been for a very long time. even further drops expected in the coming days. martha: a devastating loss this morning. jennie rivera, the mexican american singer on the verge of crossing over to this country in u.s. popularity is presumed to have been killed when a private plane crashed in monterrey, mexico. authorities have not confirmed her debt. her relatives say they have few doubts she was on board that plane. she was hea
ABC
Dec 5, 2012 5:30pm PST
the program. >> reporter: and, of course, going off the so-called fiscal cliff means a tax hike for just about everybody who does have a job. but today, treasury secretary timothy geithner said the president is absolutely willing to go off the cliff unless republicans agree to raise tax rates. >> there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember, it's only 2%. >> reporter: and on that, no progress. >> where are the specifics? where are the discussions? nothing is going on. >> reporter: there have been no real talks between the white house and republicans for a week. but late today, diane, one possible sign of progress. the president and the speaker of the house spoke via telephone. neither side would give any details about what was said, but the stock market closed higher today with traders, at least, apparently optimistic that a deal will be reached. >> one phone call can do that. okay, thank you, jonathan karl. >>> and now, we head overseas to cairo. another day of bloodshed and chaos there. battles erupting in
CNBC
Dec 6, 2012 7:00pm EST
we could do is go over the fiscal cliff. we have the same tax rates that we have when bill clinton was president. significant cuts in defense and also significant human services can you tell us. >> katie, let me ask you, before you respond to what governor dean is saying. there is logic to what howard dean is saying. i don't happen to agree with it. but i know where he's coming from. katie, let me ask you this -- katie can't hear me. we'll wait for her to get back hooked in. howard, what about the notion that i'm posing tonight -- i've said this a few times -- republicans better be careful. they're not going down your road and the democrats aren't going down your road. you have middle class tax cuts for the democrats and it sometimes sounds to me as an old reagan conservative that the republicans better watch themselves because sometimes it sounds like they are kind of defending rich people. that's their whole mantra, just defending rich people. and i think that's not where they should be. >> i would agree. if i were politically advising the republicans, which i'm certainly not, i
FOX News
Dec 5, 2012 3:00am PST
. everybody is looking at the fiscal cliff, tax the rich more for the fiscal. okay. we've got that. but we are definitely going to tax the rich just a little bit more come january 1 to pay for obamacare, specifically taxes on capital gains, dividends going up to just a little bit more, just a little bit more on january 1, and also a little bit more on income of those people making more than $200,000 a year. so we have defined rich down to $200,000 a year. it was a lot higher than that, but guaranteed january 1, a little bit more for obamacare. >> steve: when you say a little bit more, you mean like 3 or 4%, which adds up. >> it does. it's 3.8% extra as a capital gains tax. >> steve: that's a done deal. that's baked into the health care reform? >> that's it. there is no discussion about it. that was passed two years ago. this is going to happen. then you've got maybe a little bit more on income and other forms of income if we approach this fiscal cliff and the president gets his way. he is digging in his heels on higher tax rates on upper income earners. that will be a little bit more from
CBS
Dec 7, 2012 5:00am EST
to the fiscal cliff and tax cuts that could happen. delia goncalves is live on capitol hill with more on that this morning. good morning, delia. >> reporter: good morning. mike, andrea, it appears we were here live on capitol hill just two weeks ago talking about a compromise. remember that? well, now we're back and it seems that those talks that had so much promise, well, they seem they've come to a screeching halt. now congress people are pointing the finger among increasing pressure to strike a deal before the january 1 deadline. they're now blaming each other for stalling talks that could send us off a fiscal cliff. in a surprise visit to a falls church family, the president emphasized he will refuse to sign a bill that does not raise taxes on the wealthy but republicans say that's a deal breaker. his stance they say proves the president is not interested in striking a balanced deal, simp in spending more and raising the debt ceiling. but the president says his main concern is certainly the middle- class families of america. he does not want to burden them with the potential $2,00
ABC
Dec 9, 2012 11:35pm EST
to the fiscal cliff disrupting our economy and threaten jobs, the white house has wasted another week. >> democrats shona signs of backing off from supporting the president's hard-line stance on raising the income tax rate on the rich. >> we realize there have to be two sets to the bargain, but we are not going to go back to what we did in 2011 putting both revenues and cuts on the table. >> despite the impasse in washington promising signs the economy might be improving -- more job creation, improvement in the housing sector, and a decrease in household debt. solution -- spending cuts combined with an increase in tax revenue. >> talks about the fiscal cliff and the meeting between president obama and john boehner -- >> the president is trying to do two things. he is trying to both reopen negotiations, direct negotiations between him and the house speaker, the deal be struck between them. at the same time he is going to michigan tomorrow, where he will make the same case to autoworkers, the same types of middle-class people who helped him get elected in the industrial midwest. >> demo
CBS
Dec 5, 2012 5:00pm EST
cliff. log onto www.wusa9.com and click on fiscal cliff. >>> it is a tax originally designed to make sure that the wealthy folks pay at least some tax, but the middle class could feel even more pain if we go off that fiscal cliff because the alternative minimum tax which was passed in 1969 to catch a small number of families that pay no taxes, if we go over the cliff, it could impact one in five taxpayers. >> the average amount they say for each family is 3,500 per year. that would be 300 a month, but that's a lot of money. what are you going to give up? >> if the budget deal is not done, the amt tax could apply to individuals making just $34,000 a year and joint filers earning $45,000 in 2013. that's another 28 million households and a lot of deduction goes away as well. >>> turns out you can't say whatever you want on the internet. a judge ordered a fairfax county woman to take down parts of her nasty review of her contractor and she may yet face hundreds of thousands of dollars in damages. bruce leshan is live in fairfax with the details. bruce. >> reporter: yeah, anita, jane per
CNN
Dec 8, 2012 10:00am PST
households. mostly because of fiscal cliff concerns and higher tax concerns. that said, i agree with ken. this is a larger issue that nobody is willing to talk about, the third rail of american politics -- entitlements. we can't raise taxes enough to compensate for what we need in our democrat kbrafk situation on entitlements. these are fundamental issues. it's important to understand that not only have we seen investment decline and the composition of employment. the manufacturing sector not showing big gains. the investment side of the equation not showing big gains. that shows delays in hiring and defer meant by the fiscal cliff. it's clear that we are at a fork in the road. we can choose to enhance our role in the global economy by taking the situation and making responsible decisions or by deliberately slitting our own economic throats we'll lose what credibility we have left. i think we are at the fork in the road now. >> john, instilling confidence would be a big role for washington. you know, there isn't a great deal of confidence in washington. there is less in congress. at this
CNN
Dec 8, 2012 2:00pm PST
don't owe taxes on the forgiven debt, on the other side of the fiscal cliff, you do. it expires on december 31st, unless congress acts. >> the average amount that homeowners are short in a short sale is $95,000. and if this tax break goes away, as part of the so-called fiscal cliff, those homeowners could be taxed on that $95,000 as additional income starting in 2013. >> how much homeowners will owe in taxes on that amount depends on the tax bracket they're in, but on average, it would be about 20 to $25,000. the banks have an extra incentive to sell short and absorb the loss. the nation's biggest lenders get a credit for short sales as a form of foreclosure relief. foreclosures also sell on average for $30,000 less than homes sold via short sale. so as we near the fiscal cliff, you can expect short sales even more as homeowners get hit with bank taxes and banks get stuck with foreclosed properties. if we go over the cliff, the taxpayer's base with a short sale may be steep enough to walk away instead. and that would push the fiscal cliff higher for 2013. i'm christine romans. >
CBS
Dec 5, 2012 12:00pm PST
but frozen. so far - no een >>> tensions over tax hikes and spending cuts have left the "fiscal cliff" talks all but frozen. so far no face-to-face meetings have been scheduled between the democrats and republicans. cbs reporter danielle nottingham with the president's push now to sell his plan to american businesses. >> reporter: president obama asked business leaders this morning to support his plan to prevent a fiscal crisis. >> let's allow higher rights to go up for the top 2%, that includes all of you, yes, but not in any way that's going to affect your spending, your lifestyles. >> reporter: if no deal is reached between democrats and republicans before the end of the year, taxes will go up for everyone and automatic spending cuts will kick in. the president wants bush-era tax breaks to expire for households making $250,000 or more. republicans are adamantly opposed to that. >> closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising rates. >> reporter: republicans are also pressing their case with the public. house gop leaders invited
MSNBC
Dec 7, 2012 10:00am PST
knew how to do that there would be more give and take on the fiscal cliff issue, on the tax reform and entitlement reforms that we get next year, and there is a sense he really could use a bit of some fresh blood to make things a little easier going forward. >> chris, susan, and ari, thank you very much for all joining us. and the jobs report, more jobs are added in november than was predicted. what does it all mean for the economy? we'll have our own reality check next. first, new jersey governor chris christie stops by "the daily show" to chat with jon stewart about his run-in with the boss. >> and he came up and put his hand out and i shook his hand. i tried to be cool. >> sure. >> i wasn't. >> no. >> and then he said, come on, give me a hug. and i said all right. and i hugged him. >> did he go, come on stop, let me go? >> no. i was -- that's always hard to judge, when do you stop the man hug? that's hard. >> did you give had him -- you got to give also this the pat or just go slow dance? >> i went slow dance. >> you have to be kidding me. >> i went slow dance. >> no pat. i went
FOX
Dec 5, 2012 5:00pm PST
the so-called fiscal cliff before scheduled tax sxhieks spending cuts go into effect. one berkeley mother was among those in washington. >> like many families, i don't have any other place to cut right now so we're here to stand up and make sure that our voices are heard. >> the group also delivered signed petitions urging congress to end the bush tax cuts for the wealthy. >>> representatives from huns of charities have descended on capitol hill in an effort to dlsh there has been talk of capping the deduction but nonprofit leaders say they're afraid if the government limits the deduction people would drastically cut back on their donation. >> that means there will be less opportunity for people to be fed. there will be less nights of care provided for those who are homeless. there will be less service for disaster situations. >> some republican pros pose limiting all itemized tax deductions, but president obama wants to increase tax rates for the wealthiest 2% of americans instead. >>> government regulators are taking action against a baby recliner company. the consumer product safety co
CBS
Dec 10, 2012 5:00pm PST
to drop the price. >>> local seniors are taking a stand and making their voices heard in the fiscal cliff crisis. >> make it swift. don't throw seniors off the cliff. >> a group of workers and community leaders rallied outside the representative's office in san jose this morning. they say money should come from raising taxes on bank and corporations, not from cutting social programs. seniors held similar rallies today in 14 other california cities. >>> the president and house republicans have three weeks to compromise on tax hikes and spending cuts. ed to president obama hit the road to rally support from his plan. cbs reporter danielle nottingham has the latest from washington. >> president obama's public campaign to steer clear of the fiscal cliff took him to a diesel engine planted detroit. >> if congress doesn't act soon, meaning in the next few weeks, starting on january first, everybody's going to see their income taxes go up. >> private face to face talks were revised this weekend when house speaker boehner went over to the white house. neither side is releasing details about the c
ABC
Dec 4, 2012 5:30pm PST
insistence that key to the u.s. beginning to pay down its debt and avoid going over the fiscal cliff is raising tax rates on the wealthiest americans. >> we're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it. >> reporter: if republicans agree to do that, the president told bloomberg television, he'll agree to serious spending cuts. republicans have offered to raise taxes on higher incomes by $800 billion, not by raising tax rates, but by eliminating some deductions and loopholes. during last year's budget showdown, the president said he wanted to do exactly that. >> what we said was give us $1.2 trillion in additional revenues, which could be accomplished without hiking tax rates, but could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax reform process that could have lowered rates generally while broadening the base. >> reporter: but now the president does not. he says it will not raise enough revenue. >> it's not me being stubborn. it's not me being partisan. it's just a m
KRON
Dec 10, 2012 6:00am PST
and is going to the end the year with the fiscal cliff with the tax increase issues. mcdonald's not so much. their sales are up 2.4%. then about 14,100 stores and united states. they did surprisingly well with the chatter on and bacon sandwich. the keep innovating products. i know you're saying tedder bacon and onion is not innovative and someone who is walking into mcdowell said does not watch television can see that they get a soda for a dollar. this will hurt other competitors. mcdonald's is for a long-term patient investor. not for someone with diabetes ends not for some with cholesterol. >> facebook is down to 19. they have had a nice run. this whole thing with is the gramm and twitter and people on twitter are really upset that there is the gramm pictures are no longer showing up inside twitter. is this in the face with a bid to curb the competition? >> it's kind of like a fight. facebook owns and said gramm and imagine he has p.m. being shown on television for free. it is not going happen. and saddam will not be on twitter anymore. these two big companies are shooting each other. the
FOX Business
Dec 10, 2012 5:00pm EST
of tax hikes for wealthier americans as it is? >> people talk about the fiscal cliff as if it is one thing. it is three. there's the obamacare taxes. to pay for obamacare were delayed until after he got himself safely elected. so in the next decade there are a trillion dollars of higher taxes. five of those big ones start january 1st. that is one part. part two, the bush tax cuts disappearing. that is $500 billion tax increase next year, 2013. and then the third part which is the spending restraint, sequester, which obama wants to put off. that would save 1.2 trillion over a decade. he wants to put it off and spend the 1.2 trillion. melissa: all true but, you know what? at this point it seems like it is not resonating with the averaae american. go out and look at polls. quinnipiac said 77% of all republicans think it is a bad idea for lawmakers to promise never to raise taxes. >> no, no, read that poll. melissa: reading it verbatim. >> the question was, should you not raise taxes on the high income earners, whatever. melissa: to never raise taxes on wealthy under any circumstance? >>
CBS
Dec 5, 2012 11:00pm EST
in the deadlock over how to avoid the rapidly approaching fiscal cliff. the president's secretary said the administration is absolutely 3r-7d to go over the cliff if republicans don't agree to tax rate increases. speaker boehner says it is now up to the president to spell out a plan that will pass. the president told business leaders that ending fights over extending the country's debt ceiling have to be a part of this deal. now part of our deal here at 9news is having gary nurenberg follow these fiscal cliff developments. he is here with tonight's wrap- up. >> reporter: an knit tax you are right, the president and the speaker got on the phone but as if to signal the lack of progress the house got out of town. the republican controlled house left town wednesday saying it has nothing to do. >> we need a response from the white house. we can't sit here and negotiate with ourselves. >> reporter: the president's treasury secretary said there's no room for negotiation on its demand for tax rate hikes for top income earners. >> is the administration prepared to go over the fiscal cliff? >> a
CBS
Dec 6, 2012 1:35am EST
these fiscal cliff developments. he is here with tonight's wrap- up. >> reporter: an knit tax you are right, the president and the speaker got on the phone but as if to signal the lack of progress the house got out of town. the republican controlled house left town wednesday saying it has nothing to do. >> we need a response from the white house. we can't sit here and negotiate with ourselves. >> reporter: the president's treasury secretary said there's no room for negotiation on its demand for tax rate hikes for top income earners. >> is the administration prepared to go over the fiscal cliff? >> absolutely. there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest members. >> reporter: republicans insist they can get the revenue without increasing tax rates. >> the revenues we're putting on the table are going to come from, guess who, the rich. >> reporter: but the president says that won't work. >> it is not possible for us to raise the amount of revenue that's required for a balanced package if all you are relying on is closing deduct
MSNBC
Dec 5, 2012 7:00am PST
pelosi was talking about wasn't exactly the tax cuts now, fiscal cliff later. both sides have said this has to be a two-step process, there has to be some kind of commitment in downpayment on taxes and entitlement cuts and sets up a framework for broader and comprehensive tax and entitlement reform next year because it is such a big, huge change to how we tax and how we would provide medicare and medicaid and social security, you can't do it all in four books. this new idea that republicans get more leverage if they give the president taxes now and hold out on, and hold the line on the debt ceiling like they did last summer successfully is something that is new and i think a different kind of two-part plan that republicans are starting to consider as maybe a backup plan that gives them the ability to say we lost the 2% tax hikes now, but we're going to fight later on the debt ceiling. >> let me bring in congressman james lang foford, fifth rankin republican in the house, congratulations, good morning. >> thank you, good morning. >> let me ask you about the possibility of some sort
FOX
Dec 7, 2012 5:00am EST
to the federal government without raising tax rates. >> going over the fiscal cliff also means the 2% payroll tax holiday would expire. it would also mean cuts in unemployment benefits for millions of families. >>> police in prince william county are investigating a sexual assault at a motel in woodbridge. this happened wednesday night. a clerk at the econo lodge says she was attacked by a map in the room. this is the third reported attack in that area in a movement. >>> now a warping for students and staff at george washington university after police say there was an attempted sexual assault on campus and a series of burglaries. the tax -- the attack in rice hall on tuesday. the burglary happened in the ivory tower hall yesterday afternoon. >>> a montgomery county high school student accused of trespassing is now charged for bringing an unloaded gun to school. police arrested the teen thursday morning at magruder high school. they are charging the teen as an adult for carrying a dangerous weapon on a high school campus. the student did not have any ammunition. >>> dozens of d.c. police officers
FOX Business
Dec 5, 2012 11:00pm EST
the repeal of this tax refund the fiscal cliff. it is a tax rate that is increasingly seen as unfair. it is willy-nilly. they say that they are increasing the number of people are insured. and they say wait a second, that's not how it works. charles: the same argument that they use, by the same token, it is so odd that they singled out medical device makers and tanning salons are it is like -- what the heck? singh that we need to go after those nefarious medical devices. we need to get those guys. charles: you know, at some point, people have to understand. great innovation and breakthroughs will bedelayed. it is hard to calculate how many, but there is no doubt that this wl end up killing people. >> the issue is with venture capitasm, it's already pulled back. a 42% plunge in funding of medical device makers since last year. already companies like stryker announcing job llaoffs. whether we see this as part of the fiscal cliff deal, we are pushing for it. charles: at some point they do need to address this. this hurtsvery single american inhe wrong way. thanks so much. you know about
CNN
Dec 5, 2012 6:00pm PST
higher taxes. >> this fiscal cliff thing, the problem with the republicans larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> with which i agree but i think the risk here for the gop is that they become the party of rich people. and i think you saw that in the election. i don't think that is their intent. i think their intent is quite sound. >> they are becoming the party of rich white older men. you can't think of any other section of the community right now thinking the republican party is for me. >> i think that is why the politics of this make it possible to go over the cliff. i think the democrats see if we go over the cliff the republicans get blamed. meanwhile. i think the republicans worry about bei ining blamed by a pri contender with the field. that doesn't mean they are obliged to stop this. his ow
CNBC
Dec 6, 2012 3:00pm EST
ceos in that meeting agreed the tax rates for the wealthy have to rise as part of any fiscal cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... i'm with scottrade. >>> one of the most bizarre man hunts in recent memory is coming to an end in central america, we think. wealth editor robert frank has the latest details on the arrest of john mcafee. >> y
MSNBC
Dec 7, 2012 9:00pm PST
, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a press conference at the capital, boehner got a question about this. listen carefully to how he responded or didn't respond. >> you did speak with the president earlier this week. can you characterize this call? and also we understand that he just is making clear that it's got to be increasing rates for the wealthy or no deal. are you willing to give a little bit? maybe just not all the way to 39.6? >> the phone call was pleasant, but just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president, if he's serious, to come back to us with a counteroffer. >> not a no on
FOX
Dec 9, 2012 4:00pm PST
. that doesn't avoid the fiscal cliff, does it? >> it avoids the tax side of the fiscal cliff. and most of the cuts in spending, except for defense and the president sees no interest in having a strong defense and we'll litigate that next year and there are opportunities to debate the spending, defense and entitlement issues next year, get the tax issue off the table, the weakest one for the republicans and let the president own it -- >> end with a wimper, not a bang. >> yes, could be. >> chris: there you go, see you next week, don't forget, check out panel plus where our group picks up right with the discussion on our web site, foxnewssunday.com and we'll post the video before noon eastern time and follow us on twitter. @foxnewssunday. this program note: tune into fox news channel tonight at 9:00 p.m. eastern for "fly me to the moon" anchored by neil cavuto it marks the 40th anniversary of the last time man walked on the lunar surface. up next on "final thoughts." about my best friend. ♪ i'm a conservative investor. i invest in what i know. i turned 65 last week. i'm getting married.
NBC
Dec 9, 2012 9:00am EST
less in case taxes do go up. >> experts say the fiscal cliff could play grinch to the u.s. economy during the holiday shopping season. in a recent survey, the national retail federation found about 2/3 of shoppers said the fiscal cliff and other economic concerns would affect their holiday spending. the fiscal cliff will result in tax increases and federal spending cuts. >> both parties are kind of, hey, i'm going to do my thing, you're going to do your thing, nobody seems to want to give in. they're going to have to because this country's in a dire situation. >> many shoppers agree, as tax paying citizens, one of the top things on their wish list for christmas is for the president and congress to compromise and to get a deal done. >> please start working together and remember the people who put you in office. >> nadia ramdass, wbal-tv 11 news. >> jews around the world celebrated the beginning of eight-day hanukkah festival saturday evening by lighting the candles of the ceremonial lamps. in chicago, hundreds gathered to watch the lighting of an eight-foot menorah. also known as th
FOX
Dec 5, 2012 12:00pm PST
for the fiscal cliff deal that include as tax increase for the rich. he met with business leaders in washington d.c. and he is aware that some republicans may be willing to raise tax revenues. but he warped the gop not to pick another fight on the debt sealing. he was can dade -- death ceiling and he was can -- he was candid. >> this is the top 2%. includes all of you, yes. >> i believe there is a purpose to put revenues on the table. >> house speaker boehner countered the president's proposal without raising individual tax rates. the republican plan also includes 600 billion in spending cuts to federal healthcare programs and increase in the eligibility age for medicare. >>> a san francisco blogger and activist is in hot water of a photograph after political opponent. michael petrellis took this of scott weaner last year in a pact room. >> he tried to take a picture of him at an urinal. and today, he pleaded not guilty to misconduct. he wants it to be made as part of the from. >> we will be fighting the case and despite the fact that the photograph was taken, we are talking fundamentally of a ge
ABC
Dec 9, 2012 6:00pm EST
also watching as both sides inch to the fiscal cliff. not only are your taxes in the balance so are the 401ks. and today, ood holiday bonus, gas prices. we bring in bianna golodryga. you look at gas prices. write on pace to set a record. >> the average american household is expected to spend $4,000 a year on gasoline alone. and gas at 3.93 a gallon and today, take a look at this, $3.35 and by miscase time, estimates we will see 3.20. a lot has to do with post sandy. the supply is back up and the hope is that consumers will take the money and spend it shopping. >> that is the hope. and jobs number, better than expected. unemployment now to 7.7%. and bianna, people watching tonight, where are the jobs? >> that is the question. we did digging and not a surprise. retail up, $53,000 up in, and professional, hospitality and restaurants. and will it continue? they are not so sure given what is going on in washington. >> bianna, thank you. >>> in the nfl today, they were mourning their tragic loss. the dallas cowboys bowing their heads in a moment of silence to remember their teammate j
CNN
Dec 6, 2012 6:00am PST
will push back on president obama's demand for tax hikes on the rich when it comes to the fiscal cliff. but treasury secretary timothy geithner says the white house will not give in. >> no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember it's only 2%. >> geithner adds the obama administration is, quote, absolutely prepared to go off the cliff, if necessary. joining me now is van jones, cnn contributor and former obama administration official. good morning. >> god morning to you. >> so, van, i guess my first question that's eatsy for geithner to say, we're perfectly willing to go off the fiscal cliff. that means a tax hike on middle class americans and maybe some of them are thinking this morning i'm not really so happy geithner said that. >> it might have been inartful for him to say it the way he said it. i think he is making a very important point, which is that the american people did vote. they voted for the one thing the president said very clearly, which is that tax rates would go up on the wealthiest. it's an
CBS
Dec 9, 2012 10:30am EST
force us over the fiscal cliff and into a new recession with higher taxes for everyone? house speaker john boehner called it another wasted week. >> well, this isn't a progress report because there's no progress to report. >> report. >> schieffer: the president won't budge. no deals unless it includes higher taxes on upper income people. >> we're going to have to see the rates on the top two percent go up. it's not me being stubborn. it's not me being partisan. >> schieffer: the president says it's math, but is it math or politics. we'll talk with former republican senator it alan simpson, and clinton white house chief of staff, erskine bowles, who chaired the first deficit reduction commission. they're concerned about the dangers ahead. so concerned that simpson took to the dance floor to urge young people to get involved. we'll also get the take of rising democratic star cory booker, the mayor of newark. what's his answer to the washington gridlock? and is he planning a run for governor against chris christie. for analysis, we'll turn to joe klein of "time" magazine. "washington pos
FOX Business
Dec 5, 2012 7:00pm EST
over the fiscal cliff in order to raise a tax rate to 39.6%. does that make any sense to you? are you shocked, surprised? >> well, i guess i'm not surprised given we're in the early stages of the discussion, but for the economists and forecasters out there calling this is the fiscal slope, not a cliff or believe it's worthwhile to go over the cliff, it's not the case. it is, without a doubt, a cliff. it's $600 billion. the economy cannot withstand that shock. it's slowing in anticipation. lou: $600 billion in taxes? >> spending reductions and tax increases. the economy can't handle that. without a doubt, head into recession if we're over the cliff. lou: now, are you in agreement? >> i am, carl's absolutely right, nevertheless, the markets have effectively been yawning. equity markets, go higher, corporate credit market improves, commodity prices rising, and the ten-year treasury yield is dipping to new lows. i can't figure this out. everybody seems to -- lou: i know -- >> they are in a mood, and that worries me. somebody has to be wrong, and big time. >> yawning until they don't. that
FOX News
Dec 9, 2012 11:00am PST
the fiscal cliff, does it? >> it avoids the tax side. there's still a spending problem. the president has no interest in us having a strong defense so i guess we can litigate that next year. there are other opportunities to debate spending, defense and entitlements. get the tax issues off the table. >> so the fiscal cliff. >> let the president own it. >> it ends with a witcher, not a -- whimper, not a bang. >> yes. >> there you go. thank you, panel. check out the panel plus where we pick up on our website, foxnewssunday.com and we'll post the video before noon eastern time. follow us on twitter @foxnewssunday. this program note. tune in to "fox news channel" tonight at 9:00 p.m. eastern for fly me to the moon. chord by neil cavuto, a marks the 40th anniversary of the last time man walked on the lunar surface. next, some final thoughts about my best friend. [ male announcer ] alka-seltzer plus presents the cold truth. i have a cold, and i took nyquil, but i'm still "stubbed" up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decong
MSNBC
Dec 5, 2012 8:00am PST
and others to avoid the fiscal cliff between now and december 31st but take what we agree on which is that the middle class tax cuts should be extended and tax rates should not go up for the middle class, let's do that now. the republicans refuse to do that thus far, which is sort of baffling. even some of their senior members like tom cole from oklahoma have said let's take that deal, but let's pass the tax cuts for the middle class and we're talking about making sure that tax rates for 98% of all americans and 97% of all businesses. it's a small percentage of individuals that make more than $250,000 a year that tax rates would go up just a little bit. we had an election, thomas, where americans had a clear choice and they chose and we need to make sure that we think a balanced approach that is fair, that doesn't throw the middle class under the bus and that works mathematically. so far what we've seen from republicans in the house does not work in terms of reducing the deficit. >> congresswoman, we are watching the president on our screen at the business roundtable. there was an
CNN
Dec 6, 2012 1:00pm PST
't act in good faith. but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of getting close to it, the president has to be able to pivot and to say how do i turn this political advantage into a real policy accomplishment? and, wolf, i don't think you're going to do that with continued campaign style events like we just saw meeting with middle class families. okay. we get that. that occurred during the campaign. the white house has clearly gotten its message out. i think now there has to be a next step. you know, timing is everything in politics. and this is absolutely no different. what i'm getting from talking to some democrats on the hill is i think there
FOX News
Dec 6, 2012 3:00pm PST
was trying to frame the battle oaf the fiscal cliff as being all about taxes. with no mention of spending cuts. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is good for families like this one. that is good for the american economy. >> republicans believe the reason the president is going light on spending cuts and demanding the budget deal include another increase in the nation's debt ceiling is clear. >> this isn't about getting a handle on the deficits or debt for him. it's about spending even more than he already has. >> white house aides reject republican claims that holding the debt limit over the president head is the only mechanism to get him to trim spending. >> you are going to keep the debt limit goes higher and you're spending money. you and congress. >> president signed in law, $1 trillion in spending cuts. there is a specific proposal to achieve $600 billion in savings from our entitlement programs. including our healthcare entitlement program. jay
FOX News
Dec 9, 2012 9:00am PST
clear the fiscal cliff, by closing loopholes in taxes has outraged anti-tax conservatives and when he removed conservatives from the key bathses of the past. >> $800 billion in 10 years that, looks like a tax increase. 238 republicans, including me, took a pledge not to raise taxes. >> they want to send a message to me, to send a message to others that we are not going to tolerate people who are interested in doing what's right, we want to play the same game. if you try to disrupt that, we will knock you off a committee. >> reporter: conservatives were tossed off the house budget committee and others were bounce from the financial services committee. benching conservatives have boehner under fire from conservative group, including the heritage foundation, red state dot-com, freedom works and the heavy hitting club for growth. >> if you keep doing this, we may have to replace you. >> it is bad policy. it is awful politics. and it is -- it will -- it will guaranteed, it will lose him the speakership of the house in 2 years. >> reporter: the republicans lost the majority inuent 06, when
FOX Business
Dec 5, 2012 5:00pm EST
go up. and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start talking about taxes. it seems like we're looking for revenue under every single rock. that's fine. even if we raised taxes that are proposed by the white house, it will raise $82 billion. it is one half of 1% of the problem. we have a $16.3 trillion debt. all of this talk about raising taxes doesn't get us even close to solving the problem. it doesn't even start the conversation. it is not a drop in the bucket. we've got to reform our spending or grow the economy. but just raising taxes isn't going to do it. >> well, i agree with you 100%. that's why the president as well as the democrats have called for a balanced approach. so of course we can't raise enough taxes to completely deal with the deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make additional c
FOX Business
Dec 12, 2012 11:00am EST
hill. they say we are over the fiscal cliff, unless tax rates go up. the sign will come from the fed. we will know in the next 90 minutes. former atlanta fed joins us now. how is the decision connected, do you think, to the fiscal cliff? >> it has to do with balancing risks. they do not want to risk the recovery that we have underway already, even though it is slow. i expect two things. first, they will not change policy. they will continue quantitative easing. they will probably stop operation twist. simply because they do not have anyone short-term securities of any significance to sell. they will continue the asset buying programs as a hedge against going over the cliff. connell: all these names that we have become familiar with, you mentioned operation twist and quantitative easing, one, two, three, the speculation about four. basically, easy on it. policy. you are telling us, and a lot of people expect, they are worried about what the fiscal people are doing or not doing. >> they do not have to with interest rates so low. >> well, that is the trade-off. a lot of people think tha
CNBC
Dec 6, 2012 6:00am EST
we haven't reached any agreement on the fiscal cliff, we don't know what next year's tax structure is going to look like, how has that impacted caterpillar's plan? the deadlines of the fiscal cliff is driving us into our corners and i talk every day to our customers around this country, around the world sometimes for that matter, and in this country and they are scared to death what happens in january. nobody knows. going over the cliff is not an option we stare in the face. they'll figure out a way to get us through this in one form or fashion. there's outlandish guesses on both sides. i don't think we should risk it at all. if we do go over the downside is capex for next year, what could or should we do if everything slows down, i don't want to have to face and decide that. our outlook for 2013 is morms what 2012 is. that's the best we can see and they're three weengz away from the beginning of the year. >> i'll look forward to the day when you're in here again and can sit here for two hours and we'll run v.o. of big caterpillar equipment and talk about what's going on in china a
CNN
Dec 12, 2012 6:00am PST
's plan does not fulfill what he calls a balanced approach to ending the fiscal cliff. tax hikes, increases, that's what he says this all amounts to for the president, increases in taxes, and he is not trying to reduce spending, and that's important to the republicans. he said for five weeks -- this is according to john boehner -- he's been reaching out to the president but the president has not given a serious proposal. then eric canter echoing those sentiments as well. and if we do go over the fiscal cliff, many in the polls will blame republicans. so after the phone call last night, this is all about messaging, trying to stem the tide of people who believe the republicans are responsible for putting us over the fiscal cliff if that, indeed, does happen. this is about messaging, this is about posturing as well, getting the message across. our dana bash is standing by and she will update us on that as well, what the president said and what the republicans said behind the scenes. >>> we're also following details of that deadly mall shooting in portland, oregon. panicked shoppers
CBS
Dec 6, 2012 5:00am EST
. >> thanks, andrea. we talk a lot about your taxes going up buzz because of the fiscal cliff but your kids could suffer too. the impact on the classroom. that's coming up at 6:07. good morning. you're watching 9news. >>> welcome back. if your kids are getting new bikes for christmas, we have a great place that you can donate one of their old ones. here's an example of one of the old ones that's getting donated. joining us is winston and juang. why did you decide to get involved with this and do this effort? >> i started this charity about seven years ago with our -- our mom and i went over to africa. i saw a lot of people walking and in particular i saw all the women walking. it really had an effect on me because it reminded me of my grandmother. i wanted to know how i could help these people. my first thought was to send them cars or to send them food but nobody has an old car to give and food is just temporary. so i thought why not give them a bike because a bike can be used anywhere. it can be a means of transportation. it was a great solution. >> you guys have a pretty big goal this ye
CBS
Dec 12, 2012 7:00am PST
gets to the fiscal cliff. >> reporter: mr. obama's new proposal lowered his request for tax revenue from $1.6 trillion in ten years to $1.4 trillion.trillion on tuesday the white house threw corporate tax reform into the mix, adding it to the already agreed upon push next year for reform of individual tax rates.dismisse boehner's described it as unrealistic and said the tax revenue was "a red herring." the top senate democrat doubted a fiscal cliff deal would be l cli wrapped in time for christmas. >> i think it's going to be extremely difficult to get it done before christmas. >> reporter: speaker boehner is meeting at this hour with house republicans. despite all the gloom the president said he remains confident a fiscal cliff deal will get done. charlie and norah? >> major garrett thank you. nancy pelosi leads the democratseads in the house of representatives. we're pleased to have her with this m us.good good morning. >> good morning. >> where are these negotiations? when they were bargaining over the grand bargain you gave the the president and your caucus did
CNBC
Dec 4, 2012 7:00pm EST
have to leave it there. president obama says no deal on the fiscal cliff. >> how does raising tax rates on the rich help the poor. that is what i don't get. true free market capitalism helps everybody. a rising tide lifts all boats. i'm laugrry kudlow we will be right back. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >> whow does taxing the rich hep the poor rise above poverty and get a job? let's talk to larry elder. he is the author of the great book, "dear father dear son". welcome back. how does taxing successful wealthy people help the poor get out of poverty. well for people who think like i think it doesn't make any sense. but understand something, that is not what
CBS
Dec 5, 2012 5:00pm PST
for the wealthiest 2% of americans. >> and the "fiscal cliff" deadline is now a day closer and still no deal between the president and republicans. political reporter grace lee is live in the newsroom with what this gridlock could cost californians. grace. >> reporter: well, liz, now we have some very real numbers that's what's at stake if we go over the "fiscal cliff." the daily democrat predicts that our state could lose $4.5 billion and lose about 200,000 jobs and with 26 days until that deadline, the painful reality is just becoming more clear. >> at 3:00, they want to start us closing on wednesday at noon. >> reporter: a social security employee for 30 years he is joining fellow federal workers across the u.s. to spread the word that the "fiscal cliff" is looming and at stake, social security benefits for millions. >> they seem to go for the people who had the least political pull, poor, disabled, people in east oakland. >> reporter: people like a social secure recipient who relies on every federal dollar. if these benefits were to be cut how would this affect you and your friends? >> oh, wow.
MSNBC
Dec 7, 2012 1:00am PST
would still go over the fiscal cliff. remember, the bush tax cuts are one of the at least stimulative policies in the negotiations. according to the economic policy institute, extending the middle class tax cuts would wipe out only about 11% of the austerity's economic impact. 11%. but all that other stuff, the payroll tax cut, the unemployment insurance, the sequester, all that, that would still be expiring. so come early next year, the economy would likely be entering an austerity-induced recession. markets would be convulsing as they realize our austerity crisis is about to become also a default crisis. and so the economy, as a whole, is going to be going nuts. poll after poll already shows republicans are receiving more blame for the potential failure of the debt talks. and after telling the press they're going to make a strategic decision to use a debt ceiling as more and more dangerous leverage, they're likely going to get blamed for that, too. and that will be much worse in the polls. republicans may believe the white house can be so afraid of default that it would simply capit
CNBC
Dec 5, 2012 3:00pm EST
let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> welcome back. this very public negotiation on the fiscal cliff still does not seem to be closing in on a deal. the white house out in campaign style events regularly, making multiple media appearances, kle including timothy geithner right here in 25 minutes. >> but would things be done faster if it was done privately? in his latest column, jeff goldfor a compares u.s. budget talks to merger proxy battles. jeff joins us to explain about that. plus, we have bob from jones day who
CNBC
Dec 7, 2012 12:00pm EST
, it made big moves to the upside. i think this is all fiscal cliff and tax related selling here. i don't think it's core, that rumor that because they moved up margins -- >> what do you do? your brother says stay away. >> i think he's right. you don't add to it until the final weeks of december. >> he didn't say stay away. >> did he say buy it? >> he said own it. >> if he thinks it's going up. >> if he loves it so much, why don't you buy more here? absolutely. on november 16th the stock rallied, took a little bit off, and i still believe on a tact tactical basis that's the right move, at least for me. longer-term time frame it is generational. it looks most like a bond. it's a bond-friendly type of asset. that's why i want to own it. now, john and pete are talking about what potentially could turn it. you have to look forward into the earnings season and understand the potential for the number of iphones to be sold to hit 50 million. now, the reason that it was down 9 of 11 weeks, why did that begin? it began on the conversation of iphone five constraints. you wanted to order an iphone
ABC
Dec 6, 2012 11:00pm EST
to the growing fiscal cliff.the president obama took his pitch higher taxes to a fairfax county home. met with a family in falls church. mr. obama is pushing for a tax makease on garner's who than $250,000 a year. -- on earners who make more than two and $50,000 a year. spending cuts will go automatically into effect. maryland law makers are on guard martin o'malley and mike miller and michael bush were in annapolis while they discuss the financial fallout the state face. between 50,090 thousand jobs notd be lost if a deal is reached. -- 50,090 thousand jobs could deal is not reached. a new proposal could be families living in the bloomingdale section of town. is live.dfrey >> engineers call this area an anomaly. it is where three major storm drains throughout the city converge. is a flash flood, people do not have a chance. proposal is hoping to help .hose >> ryan describes the hisruction left behind when flooded four times a in for summer having dried out with no help from officials, e is one steph ahead. >> we will have to hold our breaths for next year and hope our palms and sandbags
PBS
Dec 6, 2012 12:00am PST
proposed his own plan to dodge the fiscal cliff. it includes limiting tax deductions, but no increase in marginal tax rates. and it would change eligibility for medicare and social security over the longer term. bob corker is from tennessee and joins us now from capitol hill. senator, welcome, and first of all, we heard late today that there was a phone conversation between the president and speaker boehner. have you heard anything about that? >> no, i haven't. i've been in multiple conversations today about this. but i've been in a meeting until right now for the last two hours. so i have not been aware of the phone conversation. sphwhrood well, we not hearing any reports other than the fact the call took place, but the fact that it took place, is that good news? >> oh, i don't know, judy. i think there are a the love discussions about what is the best way to get the type of entitlement reforms that everyone knows needs to take place, both republicans and democrats. judy, i have been in i don't know how many meetings in the last two years where there is a lot of commonality around th
CNBC
Dec 6, 2012 4:00pm EST
cliff? are you expecting the economy to go over the fiscal cliff and see these taxes go high hadder and spending cuts take effect? >> my personal view is i'm still optimistic. i think the conversation has been constructive since. do we have a solution on the table yet? no. but i'm optimistic we'll get to a framework. >> why? >> there's been enough dialogue. there's been movement. everyone seems to recognize the problem. everybody realizes there has to be a revenue component, spend component, entitlement reform component. for us, the business community and all the ceos, certainty is the greatest stimulus for us. >> do you support tax rates going higher? >> me personally, as an individual, more importantly the business community, which i'm part of. we support something inclusive. if rates were higher in a videocasset vacuum, i'm not sure we'd be supportive of that. we have to make sure the consumers, those who spends a lot of the dollars, the middle class, are protected in this exercise. >> i guess the question i'm really getting at is, do you get the revenue from tax increases or fro
FOX Business
Dec 6, 2012 12:00am EST
raising taxes and the fiscal cliff and what financial problems we're in this country, i read these numbers i want to tear my heart out. how do you feel? >> melissa, it is wse than that. in '09 he had the navy pay $424 a gallon for 20,000 gallons. that is fuel on the market you could buy for $3 a gallon. $424 a gallon. in mind, this president s had a war on our defense system. he disarmed america. he has done away with our brigade combat teams, our ships, our f-22s, c-17s, future combat systems. he uses the excuse. no, i have not reduced the budget for the defense. but wh he has done, melissa is move his green agenda into the, under the defense so we're paying for l this. now, senator mccain and i took this out. we had two chans that we made in the law to keep them from doing that. one was a section that said you can no longer use our readiness dollars to buy all this fuel and all this stuff. and then we also have had a prohibition against using defense dollars to build refineries. that can be done in the private sector. well on the floor there was an amendment, pretty much down party lines
CSPAN
Dec 12, 2012 7:00am EST
democrats. "no signs of reaching a deal revealed." as part of this so-called fix -- fiscal cliff, what tax deductions would you give up? fort lauderdale, hello. caller: hello. good morning. i feel that i would be willing to give up some of my medicare benefits. i currently get free shoes and other benefits from medicare that i would be willing to give up. host: anything that you would be willing to give up on your taxes? items that you have in the past? caller: i would be willing to give up my charitable deductions. host: how come? caller: i feel that i give part of it to my charitable deductions. host: would you still make donations to charity if you could not write it off on your taxes? caller: yes, i would. host: thank you for your call. joe? caller: i would be willing to give up earned income credit and i liked what the last caller said about modifying the amount for charitable deductions. i think that sometimes the very rich use that to give to charities that actually benefit themselves. i also have a contingency, which would be to reform the bankruptcy act and remove those benefits f
Current
Dec 7, 2012 2:00am PST
. >> eliot: one thing everyone in the so-called fiscal cliff negotiations agree on is the tax cuts should remain in the middle class. because john boehner refuses to bring any proposal to the floor unless his own party sports it, there is yet to be a vote in the house. i had a chance to discuss this ridiculous state of affairs with congressman chris van hollen earlier today. he had an answer for that crazy situation. >> the issue of the fiscal slope, what is the "state of play" right now. how do you assess the two positions? >> well, things remain in the air still. the president supported a very specific plan. you had speaker boehner come forward with something on paper but a lot less than met the eye he was not specific at all the cuts. i guess the good news is in the last 24 hours, they've talked on the telephone the speaker and president. we've got a long way to go. >> eliot: it presumes toward the end there will be some sort of compromise that kicks the can down the road. there is a procedural technique something called a motion to discharge that would permit to get to the floor of th
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